How Paul Stovell Built Octopus Deploy to $100M by Ignoring Silicon Valley’s Rules

Episode SummaryPaul Stovell, founder and CEO of Octopus Deploy, shares his journey from coding side projects in a Brisbane library to building a $100M+ ARR global business in the competitive world of DevOps. Paul reveals how a relentless focus on product excellence, profitability, and customer value enabled Octopus Deploy to scale without relying on constant investor funding, becoming one of Australia’s most successful software companies.He delves into the benefits (and pitfalls) of building with transparency, why he rejected Silicon Valley’s growth-at-all-costs mindset, and how he structured Octopus Deploy for sustainable, long-term growth. Paul also unpacks the personal challenges of balancing family, co-founding with his wife, and maintaining passion for building, plus why he’s still at the helm despite the inevitable burnout moments.If you’re a founder, operator, or investor curious about bootstrapping vs. fundraising, scaling a product-led SaaS, or maintaining healthy relationships while building an empire, this episode is packed with raw insights.Time Stamps02:20 – Building Octopus Deploy: From Brisbane library to $100M ARR05:00 – Bootstrapping and turning down a $400K early acquisition offer08:30 – Co-founding with your spouse: Paul and Sonya’s partnership story12:10 – Creating a contrarian culture: Remote-first before it was trendy15:45 – How Australia’s startup ecosystem evolved from 2012 to today20:30 – Becoming profitable from day one: The mindset behind sustainable growth26:00 – Facing down Microsoft: Pivoting to survive industry giants31:10 – Why transparency and building publicly were key growth levers36:50 – Scaling to 100 employees without losing the original vision43:00 – Raising $172M from Insight Partners (without needing the money)50:10 – The realities of taking on investors: How Paul views venture capital57:00 – Navigating burnout and founder stress while scaling globally01:04:20 – Hiring mistakes, culture clashes, and leadership lessons learned01:12:45 – Goal-setting without rigid KPIs: Paul’s unconventional strategy01:22:00 – Personal life balance: Family, renovating classic cars, and keeping perspective01:29:30 – What’s next for Octopus Deploy: Staying independent and profitableResources Mentioned🐙 Octopus Deploy – https://octopus.com📖 Octopus Public Handbook – https://handbook.octopus.com📊 Octopus Investor Relations – https://ir.octopus.com👤 Paul Stovell’s LinkedIn – https://www.linkedin.com/in/paulstovellSponsors:Perspective X is supported by our wonderful sponsors:Vanta: Vanta is the all-in-one solution for startups to become compliant quickly and build a security foundation with ease. Startup customers get $1000 off Vanta at dayone.fm/vanta/paulineMighty Partners: Mighty Partners is a growth lender supporting ambitious Australian companies with bespoke debt funding solutions.Day One listeners are invited to book a complimentary venture debt consultation with Mighty Partners. To schedule your call, simply follow the link and mention "Day One Free Consult"dayone.fm/mighty Perspective X is part of Day One.Day One helps founders and startup operators make better business decisions more often. To learn more, join our newsletter to be notified of new Perspective X episodes and upcoming shows. Mentioned in this episode:Mighty Partners_PX_May 2025Vanta_PX_May 2025

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